Sweetgreen, Inc. $SG Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC trimmed its position in Sweetgreen, Inc. (NYSE:SG) by 29.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 53,380 shares of the company’s stock after selling 22,376 shares during the period. Intech Investment Management LLC’s holdings in Sweetgreen were worth $794,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Glass Jacobson Investment Advisors llc bought a new position in Sweetgreen during the 2nd quarter worth approximately $30,000. Nisa Investment Advisors LLC raised its position in shares of Sweetgreen by 98.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,129 shares of the company’s stock valued at $32,000 after acquiring an additional 1,055 shares in the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych lifted its stake in Sweetgreen by 70.8% during the first quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 4,100 shares of the company’s stock worth $103,000 after purchasing an additional 1,700 shares during the last quarter. LVW Advisors LLC acquired a new position in Sweetgreen in the second quarter worth $159,000. Finally, Kingswood Wealth Advisors LLC bought a new stake in Sweetgreen during the second quarter valued at $170,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SG. Piper Sandler reduced their price target on shares of Sweetgreen from $12.00 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. Bank of America reissued a “neutral” rating and issued a $9.50 target price (down previously from $18.00) on shares of Sweetgreen in a report on Monday, October 6th. Citigroup reaffirmed a “buy” rating on shares of Sweetgreen in a report on Wednesday, November 12th. UBS Group dropped their price target on Sweetgreen from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Monday, November 3rd. Finally, Oppenheimer set a $10.00 price objective on Sweetgreen in a research report on Friday, November 7th. Five research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $11.82.

Insider Buying and Selling at Sweetgreen

In related news, insider Nicolas Jammet acquired 18,115 shares of Sweetgreen stock in a transaction that occurred on Wednesday, November 12th. The stock was acquired at an average price of $5.51 per share, with a total value of $99,813.65. Following the completion of the acquisition, the insider directly owned 18,115 shares of the company’s stock, valued at $99,813.65. This trade represents a ? increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jonathan Neman bought 179,800 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was bought at an average price of $5.56 per share, with a total value of $999,688.00. Following the transaction, the chief executive officer directly owned 179,800 shares in the company, valued at $999,688. This represents a ? increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 19.78% of the company’s stock.

Sweetgreen Trading Down 3.4%

Shares of NYSE:SG opened at $6.63 on Thursday. The firm’s 50 day moving average is $7.15 and its two-hundred day moving average is $10.43. The firm has a market capitalization of $784.20 million, a P/E ratio of -6.83 and a beta of 1.94. Sweetgreen, Inc. has a 52 week low of $5.14 and a 52 week high of $43.52.

Sweetgreen (NYSE:SG) last issued its quarterly earnings data on Friday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.13). Sweetgreen had a negative return on equity of 25.67% and a negative net margin of 16.55%.The business had revenue of $172.39 million for the quarter, compared to analyst estimates of $179.29 million. During the same quarter in the prior year, the firm posted ($0.18) earnings per share. The business’s quarterly revenue was down .6% on a year-over-year basis. Analysts predict that Sweetgreen, Inc. will post -0.74 EPS for the current year.

Sweetgreen Company Profile

Sweetgreen, Inc, together with its subsidiaries, operates fast food restaurants serving healthy foods at scale in the United States. The company also accepts orders through its online and mobile ordering platforms, as well as sells gift cards that do not have an expiration date and can be redeemed. The company was founded in 2006 and is headquartered in Los Angeles, California.